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tomorrow. ashley: the dow is in the red but damage from sandy isn't done yet. the focus turns to recovery, so does its ballooning price tag. the latest, $1 billion damage estimates and keeps going up. melissa: president obama said it for the floor before the election. chris christie be just the ticket to boost president obama in the polls, we will ask lou dobbs. ashley: let's get to nicole petallides on the floor of the nyse. she is back in action. nicole: we are back in action. the boards of the nyse open and most folks made it here in some form. a smooth opening, some down arrows across the board for the most part but after two days of no trading we are back in action. most of the dow components have down arrows and focus duncan neiderauer, the ceo of the stock exchange, i asked him if they could open monday or tuesday and fear is what he had to say. >> we certainly could have operated electronically. what the industry told us sunday was please don't open electronically because we have to put a lot of our people in harm's way so let's not do that. i wish the industry and we came to deci
>> it is 7:00 p.m. on the east coast and hurricane sandy is hitting hard. this is a cnbc special report. the waves pounding hard-hit atlantic city, new jersey tonight. plenty of dramatic pictures. >> first we'll start with meteorologist todd gross to get the latest on the storm. >> specifically the storm is basically coming to its heights but not in terms of the water. i'll explain y.can you see some of the winds right now including right here over islip, long island. 59-mile-per-hour gust. now 78 miles per hour. and that's the strongest that we've seen so far. however, take a look at the storm surge that we're expecting just a couple of hours from now when it's high tide. you know, this is full moon coming up tonight which aggravates this a little bit, enough so that this is likely to happen. four to eight-foot storm surge around the south shore of long island, down to the east shore of new jersey. then we have the water funneling in along the long island sound, and that's going to be a big problem with a storm surge of 6 to 11 feet. what does that mean? that means that the actu
here on the halftime show. let's send it over to "power lunch" and the latest on hurricane sandy. >>> scott, thank you very much. we continue our breaking news coverage. hurricane sandy lashing out at the east coast of the united states. streets are flooding. that's the least of it. beaches eroding. this is the real deal, sue. >> indeed it is, ty. i'm sue herera. welcome to "power lunch." we have reporters and live cameras spanned out from washington, d.c. all the way up to new england. but we're going to start with meteorologist todd gross for an update. >> it is still looking grim. basically the two important things to note about this storm are number one, it is transitioning right now in to an extra tropical storm. non-hurricane. it's doing so with a very deep central pressure. you see that 943 mb? that means it is 943 millibars. sounds technical? it means it is a really deep storm, even for a hurricane, and it is transitioning into a non-hurricane, and yet maintaining its strength. that's one important factor. the other important factor is take a look at the bends that this s
much. >> greta: this is a fox news alert. tonight a monster storm sandy slamming the entire east coast. powerful winds and torrential rain turning dangerous and deadly. already at least five confirmed deaths in new york. one man was crushed to death when a tree fell on his house in queens. this mean storm made landfall two hours ago along the southern new jersey coast near atlantic city and starting its deadly journey up the coast, thrashing anything in her way. parts of lower manhattan in the dark. con edison deliberately shutting off power to thousands to prevent further storm damage. storm sunga surge is reaching rd high levels. getting help is a nightmare. new york city's 9-1-1 system is overloaed. it's not just new york, though, and new jersey. in maryland sandy downing trees, leaving thousands and thousands without power. in delaware and new jersey, raging flood waters drenching and in some instances drowning coastal towns. 50 million people still in sandy's line of fire. the count at this hour is more than three million without power. thousands and thousands of those without pow
. hurricane sandy, there's been speculation for a week on these building companies. all of them up again today. absolutely remarkable. finally, maria, talk about great timing. guess who's going public tonight? restoration hardware. we need them. maria, it's a very, very small offering. i hear a little bit of a pop tomorrow. i'll be all over that in the morning. >> that's a great company. thanks very much, bob. appreciate it. we'll see you a little later. don't go anywhere. we're all over this big rally and much more on this busy edition of the "closing bell." stay with us. >>> coming up, markets on the move. good economic numbers, but will it carry over if the october jobs report brings bad news? we break it all down straight ahead. >>> plus, brewing profits. maria talks exclusively with starbucks ceo howard schultz about earnings and the effect sandy may have had on his company's supply chain. >>> and insuring stability. aig chief robert benmosche joins maria with his thoughts on earnings, sandy's aftermath, and the treasury department's reported plans to liquidate its remaining shares of his
and watch sandy, watch us. >> gretchen: log on for our after the show show. be safe, everyone. have a great day. sandy strengthens and targets a paralyzed east coast right now. you have new york city basically shut down. coastal areas in new jersey, maryland, virginia, preparing for the worst. this is a massive, massive storm. and it could truly affect people from maine all the way down to north carolina. as far west as the great lakes. that is 900 miles from coast to coast. good morning everybody, i'm martha maccallum, here in "america's newsroom". bill: i'm bill hemmer. good morning of live today from cincinnati, ohio. it is the critical battleground state in the race for the white house only eight days away. sandy making her presence known on the trail. president obama canceling an hour ago a trip he planned to orlando, florida. he will monitor the storm in the white house. the romney team dropping fund-raising e-mails up and down the east coast. over the next two hours we will talk to the voters of this critical state, especially in the southwestern part of the state and talk about why
of wind and rain. that's what they forecast and that's exactly what we've gotten and more. sandy's fury is still going to come this evening. originally it was supposed to be about 8:00. that has now been moved up and could be as early as 6:00. where we're we'll start to feel the full impact of high tide. that gives people a short window. people have not yet evacuated. they should have already, in my opinion, but that's a -- it's a very short window until we really feel the full impact of sandy's fury. this is probably the last warning that we're going to be able to give people about getting themselves to a safe place before that coastal surge really hits. of the national guard, the 1,000 that are going to be deployed today, the majority of those national guard will be deployed on long island. as the issue becomes more and more the coastal surge, long island becomes more and more vulnerable and the primary area of our operation. nassau county has put in an urgent request to get more assistance from national guard to help evacuate people from the long beach area and the bayville area. we'
are gearing up for tomorrow, the first day of fully operational markets in the aftermath of sandy. tonight the cme group will reopen its u.s. equity endex futures and options markets. tomorrow it will resume normal hours of the trading floor. joining me now in an exclusive interis the cme chairman. we appreciate you spending the time with us today. >> thanks, maria. our thoughts and prayers are with you and everyone in new york. >> thank you so much. tell us what worked last night. what with did go operational? what kind of trading are you expecti ining tonight? >> you know, everything pretty much worked. we have with invested tremendously in our back-up facilities. we were up and running with no problems whatsoever. we didn't see a tremendous amount of movement in the market, which i think is actually a good thing for what's gone on in the world right now. so we saw the s&p go from roughly 1407 to as low as 1399 and come back up as high as 1411 when we closed up this morning. we are seeing some activity. the volume i would say is just a little bit off of what it would normally be. >> so a
of -- nicole petallides. nicole: so far, so good. day two of trading after hurricane sandy hits the eastern seaboard. names like home depot and lowe's have been doing well on the heels of everybody rushing to get things to clean up after the hurricane hit. also, there was separation as well. the immediate impact of sandy is quite significant, trucking volumes and that will take time for a to get back to normal. the more people over the last year or so. hell shire posted solid topline during the latest quarter. connell: it was an absolute commuting nightmare. take a look at the gas lines. this is similar in many areas. miles long. people waiting for hours following hurricane sandy to fill up their car. let's bring in tom kloza. >> this is all about the power. once the power comes back, people will get their fuel. connell: it is not as if in a normal situation we would have any supply issues. you definitely have a lot of demand for gasoline. power is a big-time issue. does it have any impact on market dynamics and pricing? >> i think a lot of demand is being destroyed. i think what you will s
is more of a ghost town because sandy is in town. parts of lower manhattan brace for an 11-foot storm surge at high tide tonight. widespread flooding is on a concern on the streets and xwrur underground and prompted a complete shutdown of mass transit. bloomberg and chris christie is reiterating why it's like nothing we've seen before. >> this is a massive storm. >> when it comes in tonight, we can't come in and rescue you. it's going to be dark, electricity most likely will be out if it's not already. >> i'm krystal ball. it's not just mere in the tri-state area. capitol hill is shut down as washington weathers the storm. president obama is tracking developments from the white house where he spoke this afternoon. >> please listen to what your state and local officials are saying. when they tell you to evacuate, you need to evacuate. do not delay. don't pause. don't question the instructions that are being given, because this is a serious storm and it could potentially have fatal consequences. >> this storm is so massive, so unlike anything we've seen before that parts of the country
sandy. >> i'm bill griffeth at cnbc global headquarters. this is usually the last hour of trading but this is the beginning of the worst of sandy. the situation getting more dangerous. that's a live picture out of midtown manhattan. a damaged crane atop a building located on west 57th street in midtown manhattan. all of that as a result of the heavy, heavy winds that are been hitting that area of new york city. we will keep you updated on that particular story. in fact, we have whole team coverage from every angle of this story. todd gross is here with us at battery park city, we have mary thompson from the port of baltimore, brian shactman is on long island. kayla tauche in cape may, new jersey, and we will be navigating the carnage for the next two hours. it is expected to pick up in severity in that time frame. let's start with the big picture from todd gross. todd, where is hurricane sandy although this moment. tell us what comes next. >> less than 100 miles to the southeast of atlantic city. in fact, breaking news for you. the storm is accelerating to the point it's likely to
of the country. hurricane sandy taking aim at the mid-atlantic coastline and the northeast. at last check it was about 205 miles southeast of atlantic city, new jersey. massive storm could affect 60 million people. we are talking from virginia to massachusetts. forkers to expect sandy to combine and cause a cold front that will cause massive power outages, and snowstorms and flooding. mountain areas of the state could get two feet of snow, so already starting to fall, and fema, federal emergency management agency, says the storm damage from wind alone could reach $3 billion. we're also going to be hearing from the president about 45 minutes or so from the white house. he is going to be making a statement, updating the conditions of what the federal government is doing to tackle this horrific storm. forecasters expect that sandy will make landfall as early as tonight. the eye of the storm appears headed for jersey shore. the delmarva peninsula. it's an area that includes delaware, parts of maryland and urban search and rescue teams already standing by in maryland, waiting for deployment or
right now. >> the threat of hurricane sandy has the east coast and wall street on edge. welcome to str"squawk on the street." we're live this time at cnbc global headquarters. we're here because nyc and nasdaq will be completely shut down today because of sandy. no stock trading as well. originally they planned to use the electronic platform to continue nonfloor trading today but now decided to stop trading all together. the first related shutdown due to weather since hurricane gloria in 1985. trading will be suspended in 15 minutes. all other markets will remain open with scheduled break between 5:15 p.m. and 6:15 eastern time. we see red arrows in europe. we'll talk about things driving that action later on. >> we have your bases covered on hurricane sandy and what is at stake for businesses and your family. we begin with scott cohn in battery park. scott? >> reporter: good morning, melissa. this was completely dry just a couple hours ago. what you are looking at here is high tide. this isn't storm surge to speak of yet. it is high tide exacerbated by the full moon and somewhat exace
sorkin. sandy still packing a punch. more than 7 million people currently without power from north carolina through connecticut. there are more than 2 million people in new jersey alone without power today. we'll get an update on the you power situation in new jersey with the president of pse&g, they have 1.2 million customers without pow person by the way, the president is just declaring a state of emergency in new york city. this is something that will free up more federal funds for people here in long island and in new york city and we will have more on that in just a moment. also coming up in the next half hour, we have delaware governor jack markell. we'll get his assessment of the damage to his state and dennis gartman will talk energy and commodity trading. >> lots of damage to report in the new york city area, more than 50 homes were destroyed by fire last night in breezy point queens. just east of cone any islands, more than 170 firefighters were on the scene. and separately more than 200 patients were evacuated last night from new york university's medical center after po
>>> that's all for us tonight. i'll see you tomorrow with the latest on sandy 'aftermath and the latest from the white house. our thoughts and prayers for everybody suffering out there. "a.c. 360" starts right now. a lot to get to tonight, a lot happening. what we've been seeing all day, what we'll be seeing for a long time to come is not the after math to a disaster. ask anyone just down the street from us in the lower part of manhattan where it is still dark or across the water in staten island or down the jersey shore. they'll tell you. sandy is ongoing. the winds of sandy are still blowing in many ways. and almost every moment, there is a new reminder of why. we just got this video of a fire crew out on long island the night that sandy hit, surrounded by water, battered by wind and facing a wall of flames. you take a look. >> what about the downed wires? >> watch the wires over your head. they are stuck up in the tree right now. >> here comes the wind. >> the block is pitch black. >> imagine that, fighting fire in the midst of all that water. the fire is out. the home
>>> i'm becky quick along with joe kernen and andrew ross sorkin. sandy is ready to strike. we'll take you through the storm. winds are picking up, rain in a lot of areas. we'll also be talking about the decision to close the nyse and nasdaq trading. and as we brace for the storm, power companies around the region are getting ready to deal with the potential after math. we'll talk to the chief operating officer of pse&g right here in new jersey. that's coming up at 6:40 a.m. eastern time. and more than 7,000 flights have been canceled from washington to boston as those cities brace for flooding and high winds. phil lebeau will have a live report coming up at 6:30 eastern time. . as we've been talking about, the new york stock exchange and nasdaq will be completely shut down today with no stock trading at all. originally the nyse had planned to use its electronic platform, but at this point it has decided to shut trading all together. that happened after it had conversations with other u.s. stock markets and with u.s. regulators, including the sec. and this is the first weather
in washington with some words of encouragement in the aftermath of superstorm sandy. we welcome you to "closing bell." mari maria, how are you doing? >> i'm doing well. i'm coming to you live from rockefeller center in new york city. the market closed once again today. it is back to business tomorrow, though, with the new york stock exchange and the nasdaq announcing plans for normal trading hours tomorrow. >> i'm bill griffeth. the superstorm did put the brakes on wall street for those two days. the death toll, unfortunately, continues to rise. millions are still without power across several states and will be for several days. but tomorrow will mark a big step toward normalcy for america an its economy as the stock market gets set to open once again. the big question now is, what happens when that opening bell rings tomorrow morning after such a long hiatus and such a disastrous storm? >> really unprecedented. we have team coverage today. scott cohn with the latest on the flooding near wall street. courtney reagan is monitoring the power outages. jackie deangelis is in a new jersey town. we k
first responders just moments ago, and that's where we begin with the breaking news on sandy right now. >> like a bomb hit the town. there's nothing left. >> what were you thinking last night? >> i was actually thinking sooner or later, if the water didn't stop, our houses would be floating away. >> floods, fires, even several feet of snow. sandy has left her stamp on the east coast and spreading the misery to our friends further west. good afternoon ichlt s.e. cupp. this hour, the hardest hit spot beginning with the cleanup of the areas still bracing for more. it's a special edition of "the cycle," and here's the latest on what's happening right now. the president just wrap pd up a visit to red cross headquarters in washington where he praised early recovery efforts. we have new video from the national guard looking down to seaside heights, new jersey. clean could take weeks. >> we're talking months it to recover from this. >> the damage is clearly extennive and will not be repaired overnight. >> this is not going to be a short-term situation. this is a long-term recovery reconstructi
>> welcome to a brand-new hour of our special, monstrous storm sandy coverage. in connecticut, the governor calling it the worst-case scenario, telling towns to brace for storm surge. and molly keeping an eye on things for us in new london, connecticut. molly, what's the situation there? >> reporter: you know, rick was telling us how the worst of the storm is over, but there is a lot of danger here. that's the central point that the connecticut authorities have been trying to make to keep people off the roads. the governor went so far to close the highways to all non-essential emmeees. and they still want people to stay off the roads. here's why. massive, massive trees are down, across much of connecticut, particularly here in new london, connecticut. huge trees. a lot of debris on the roads. these kind of mon spheres -- monsters right into homes and they are taking out por lines. that's what make its so dangerous, the big tree, downed power line and it is debris on the road. the things you can't see in the dark and the things the utility companies won't be able to get to, pos
several hour, predictions about sandy have all been proven true. here's what the 900-mile-wide system looks like at this hour. it's classified as a post tropical storm. but forecasters say, don't be fooled by that designation. sandy continues to pack hurricane-force winds and is likely to touch 50 mill yen people before it peters out. we have the latest new from the extreme weather center. very busy night for you, rick? >> reporter: you know, some of the statistics are scary. 79 people have died from sandy, between the caribbean and into the u.s., at this point. i am seeing reports, you can maybe confirm this, but i am seeing over 5 million people without power. that number will continue to rise. i have a really ugly graphic. i normally wouldn't show you something that looks this odd. i ran all the warnings and watches of some type that are out there right now. you can see, between wind and flooding and coastal flooding and snow and blizzards, this is what we have going on from this one storm from parts of illinois, back towards maine, down to georgia in across the deep south. very re
>>> it's november 1st on "the cycle." it's been exactly 67 hours since superstorm sandy make landfall along the jersey shore. three days later, incredible signs of recovery. even more signs there's a long road ahead. >> i'm stove carneve kornacki. where is the money going to come from? >>> the storm has passed and both candidates are back on the trail. five days to go and the stakes couldn't be higher. >>> time toure. technology's come a long way since tim russert famously wrote florida, florida, florida. but what hasn't changed is the path to victory, making the sunshine state our state of the day. >> all that plus the image emblematic of what barack obama wanted from his presidency. it took four years and an act of god to get it. it's thursday and you're in "the cycle." >>> it's another day of slow progress as nearly two dozen states pick up the pieces from sandy. the death toll now stands at more than 80. also rising is the costs. now estimated at north of $60 billion. that's not hard to consider when you look at the incredible damage especially along the new jersey coastl
of the damaged area from hurricane sandy. part of that tour will be by helicopter and this is what he will see when he flies above seaside heights, new jersey. utter devastation. there, the one-time amusement park at seaside heights. simon hobbs is in for sue herera today. >>> but first, to the aftermath of the storm and president obama's visit to the new jersey coastline. kayla tausche is live in atlantic city. kayla? >> reporter: hi, tyler. we just saw air force one fly right over us and headed likely toward the atlantic city airport. we have tons of residents in atlantic city who turned out very excited, very rambunctious to seat president. it is the first day of sun after days of wind and rain and of course the wreckage of sandy here is evident as a place that used to be home to more of a residential part of the boardwalk. residents would fish off of it and stroll here. not so much the business part of the boardwalk but the wreckage you're seeing here, nonetheless. here in atlantic city the cleanup is just in its early, early stages. some residents who chose to stay behind getting power. i
's listen. >> an update on the city's recovery from sandy as of this moment. i went to some of the areas in south brooklyn hit hardest by the storm. i did talk to some homeowners, went inside some of their houses and some had been severely damaged by sandy. the homeowners are still without power. some of them are still pumping water out of their basements, and they're confronting what they have lost and what to do next. the bottom line is the most important thing is to deal with those we have fatalities, help those families through the unimaginably tragic occurrence in their lives, something that they will not recover from, and then understand that the people who lost their houses or don't know where they will get food or water have some confidence that we are going to be there for them, that we are doing what we can as fast as we can consistent with making sure that we have no further loss of life, so for example in turning on power, if there's a chance turning on power is going to start a fire, we will err on the side of caution. if there is an issue the safety of one of our first resp
sandy. "cnn newsroom" continues with brooke baldwin. >> thank you. good to be with you on this thursday. important jobs news with just five days to go here before the election. this is a new report, released today which indicates the u.s. employers hiring in bigger numbers than expected. let me be clear. this information, this is not coming from that all-important government jobs report. that doesn't come out until tomorrow. so today's numbers come from adp. they process payroll so let's go straight to alison kosik for this. what more do we know about this report? >> okay. what this report does, brooke, surveys how many jobs that private employers have added so it means all those industries that are outside of the government arena and what it said this time around for october is 158,000 jobs were added. and it came in better than expected, seeing good job gains in services and construction and a second report on jobs showing unemployment claims fell by 9,000 last week. decent pieces of news from the labor market but the reality is analysts say it may not have a huge imp
. >> hurricane sandy could be a spoiler down the stretch but which candidate will suffer the bigger punch? set to make landfall in the northeast eight hours from now, but high winds and heavy surf is hammering coastal states. governor romney has a packed campaign schedule holding an event in ohio and stumping in iowa and wisconsin later today. meanwhile, president obama is in a holding pattern, kangs ling events in ohio and florida to return to washington and monitor the storm. the white house canceled the president's trip to wisconsin scheduled for tomorrow. but while voters won't see him on the trail they will see him in the role of commander in chief including later this hour when he delivers a statement on the hurricane from the white house. and perhaps voters will be wondering how a president romney might handle the very same situation. one indication comes from a primary debate in june of last year, when governor romney made the case for shutting down fema and passing the responsibility on to the states. >> fema is about to run out of money and some people say do it on a case-by-case bas
and correspondents covering this like no other network can. coverage of super storm sandy. talking about flood, fires, massive power outages result of sandy in the med lane exic. 21 people died in the united states from the storm. right now more than 7.5 million customers in 15 state have no electricity. according to early projections, damage from the storm between $10 billion and $20 billion. in new jersey, rescue crews plucking people off rooftops after a natural levee broke and flooded three towns in bergen. queens new york, fire destroyed dozen homes, 50 burned to the ground, 30 were on fire. and head of the new york transit authority says the city subway system is facing the biggest disaster in its history, including flooded tunnels and power outages. a short time ago, we heard from new york mayor michael bloomberg. >> make mo no mistake, this is a d devastating storm, first ever experienced. first responders heroic job. they are conduct life saving search and rescue missions and we owe them an enormous debt and gratitude. >> new jersey, a natural berm, levee, near the town as given way, on the
called sandy ravaging the entire coastline. the g's office says at least six people with now dead in the aftermath. in long branch and pleasant beach and seaside heights, nobody has electricity. the storm knocked over trees, ripped out electric lines, and today more than two million people just in new jersey are without power. rail service, path trains that run up and down the coastline, forget about that. buses too all suspended. transit officials say it's going to be days, probably weeks before any type of commuter train service starts again between new jersey and new york city. now, look at our team of reporters that we've got them everywhere. cnn is all over the storm-damaged area. we are covering this disaster like no other network can and live coverage of and storm sandy. >>> a new jersey man who has been surfing off the jersey shore for more than 20 years says the destruction along the coast brings tears to his eyes. brian morowski sent us this video. he shot it the day after sandy struck. look at the expanse of all of this. it shows the beach boardwalk in his hometown del
is the latest on sandy's devastating impact. this storm has been blamed for at least 38 deaths so far. there's new video this afternoon showing the massive destruction along the new jersey shore. governor chris christie of new jersey called the impact on his state unthinkable and said it would take months to recover. the storm swept houses from their foundations and left parts of the coast under water as you can see. new york city is also dealing with devastating floods. the subway remains closed after damage to the system was called the worst in its 108-year history. look at it there. meanwhile, massive fire at a beach front neighborhood in queens, new york, destroyed nearly 100 homes overnight and into the morning. firefighters were blocked from getting to the fire due to high floodwaters. a construction crane remaining dangling there. you see it atop 74-floor luxury high rise. thousands were ordered to leave nearby buildings. more than 8 million homes are still without power today in the country across 20 states. the worst of it is in new york, new jersey, and pennsylvania. i want to brin
city skyline. thanks forever inviting us into your home tonight after hurricane sandy. people coming together. that's a good thing. that's it for "special report." fair, balanced and always unafraid. >> shepard: this is "the fox report." tonight, the dramatic images from that devastating storm. including this shot from the construction pit at the world trade center. sea water cascading into the still gapping hole. plus, from above the jersey shore, massive, widespread destruction caused by a once in a lifetime storm. >> we're talking months to recover from this. >> shepard: millions of people across the northeast without power. [chainsaw] >> shepard: shore towns from virginia to connecticut under water. >> this is the worse i have ever seen. >> shepard: the nation's largest city at a stand still. entire new york city neighborhood burned to the ground. >> absolute and total devastation. >> shepard: and now the storm has turned into a blizzard. plus, thousands of passengers still stranded at airports across the nation and around the world. halloween, we have got the kids at home
at the new york stock exchange. what a couple of days it's been after being shut down by hurricane sandy, wall street winding down the historic afternoon for the stock market, back in business the market down slightly. the fact that we are open today after this recent disaster is viewed as a very important step for this recovery. >> it's an amazing achievement just to get that opening bell this morning. i'm bill griffith. you can see the dow is down modestly and for the most part it has been for the most part smooth sailing in terms of trading at the big board. we'll talk to a host of top market watchers, get their take how the exchanges are doing on the heels of hurricane sandy. >> of course it's all about the recovery. i'll talk with nasdaq's ceo bob griefeld on how his day is going. stay tuned for that as well as any lot of other interviews coming up. we go to the front lines to get a full picture of what it's like getting back on track. >> doing a channel track, traders covering everything from equities and oil to fixed income. scott bauer of trading advantage from the chicago mercan
're faced with in the economy, on the heels of sandy, how do you want to allocate capital? what are you telling investors? >> well, in terms of where the liquidity is going, because we have these liquidity ways, i think you want to be in shorter duration assets if you're going to look at the fixed income markets. you have to believe rates are going to go up. then you have to look at equity groups. that's where the last waves go into the more risky assets. >> and you're seeing that? >> yes. >> all right. we'll leave it there. chip, good to have you on the program. jeff, rick, thanks very much. let's keep our focus zeroed in on the markets. bill stone helps to oversee more than $55 billion in assets. hendrick is in charge of about $100 billion. we want to find out where they're putting their money to work and how they see this market. both join me now. gentlemen, good to have you. bill, you say it's time to be more cautious in equities? >> yeah, we recently really lowered our allocation down to baseline. i think it's for a lot of the reasons that were discussed. even once we get past the
blamed on sandy you most in new york state. unfortunately, they do expect that number to go higher. buses in new york city are expected to start returning by 5 p.m. tonight. not the subways, however. some of the drains into manhattan have reopened. the d.c. metro system has limited service. schools will be closed for an unprecedented third day in a row in the new york city area, ty. >> our coverage, sue, is extensive this hour. on the agenda, more on how the markets are likely to fare when they reopen tomorrow. just heard bob say that duncan niederauer of the nyse will be our guest very shortly. plus the impact on next week's presidential election. an engineer on what went wrong involving that giant crane collapse in middown manhattan yesterday afternoon. >>> let's head to southern manhattan, just a couple of blocks from the new york stock exchange. and we are going to check on the recovery efforts there. scott cone has been in battery park city since the beginning of this storm, less than a five-minute walk from the nyse. scott, what's the latest? i would like to get your reaction to the
in the area impacted by sandy? that's the big question this morning. joe knows this very well, on my way in today, i had to take a taxicab for $125 because jeeves was this line to get gas, he was out of gas. >> i tried to take a car, my guy who i call -- he is not, but he nights as well be a former -- he has never failed. on on tuesday he came. and there have been snowstorms in the past where we've gone off the road, around, jack moved tractor trailers to get here's couldn't get gas. and so then i had to use -- i had a certain amount left in reserve. my gas tank is locked because people are siphoning now. >> it happened to one of our producers. >> there are people with guns. first 12 lines have to to do with troopers being there, you're not getting gas, people pulling guns, fights, frustrated. i saw something, and mill burn is a pretty of a through event community. and this one gas station finally got power, in addition to a five hour wait for cars on the other side, there were people, i don't know, somehow reminded of almost leak refugees. probably 120 people all with gas cans and three
at 10 a.m. eastern to make that determination, so we'll have that news for you. and hurricane sandy didn't stop ford from reporting earnings. why would it? ford much better than expected profit. and costs cut and north america was phenomenal. don't forget a week away from presidential elections both candidates may bring this up between now and then and speaking of which the key swing state of ohio seems to be tilting tornado romney. and it's obviously close, but the first time romney had even a modest lead in ohio and perhaps, ads like this one, criticizing president obama's handseling of the auto industry could sway voters there. >> obama took gm and chrysler into bankruptcy, and sold chrysler to italians who are going to build jeeps in china. mitt romney will fight for every american job. charles: all right guys, ford didn't take a bailout and amazing numbers, general motors in the meantime, losing market share, bogged down by the volt, bogged down by a pension, bogged down by government interference, i don't know. >> all of solvable exception the pension problem. they didn't go throug
of kids. let's get to lower manhattan. lower manhattan is springing to life today after super storm sandy hit the area, flooding the battery. the new york stock exchange is set to ring its opening bell today after being closed. for the past two days, scott cohn reports from lower manhattan right now. scott? >> good morning, andrew. the red, white, and blue lights behind me are symbolic at the new york stock exchange. they came on about 10:30 monday night as the storm was just make its way through here as people were frantically trying to keep water out, ultimately in vain. but power always stayed on here. this building always stayed dry. that's an important symbol. the question is whether it can be more of a symbol today as they try to get the markets back up and running. we've seen a lot of people arrive here, technicians and so on trying to make sure that their connections from the exchange to the outside world, wherever their firms are, wherever their trading desks are are going to work. but it's going to be a huge challenge. other than this little island of electricity here, there is
christie. for all of those concerned about voting in his state. after super storm sandy, the governor said they can vote by e-mail and fax ordering county clerks to open up the offices so residents affected by sandy can cast their ballot. >> you don't have to wait to vote. go there and in person you will get a ballot and hand it in and you are done. >> the governor knows how to put things said paper ballots will be made available in poling stations that do not have electricity. storm is forcing other to handle the voting challenges after the storm on the list. washington dc and north carolina, we'll keep you posted. recovery from sandy is a slow one from people in the northeast and power is finally coming back on for some. a long way to g. concerns about a new torm we are learning a nor'easter that is forecast for the middle of next week. it appears that new storm could bring high wind exercise we don't need that andev herain to the region that is devastated. ? staten island, new york is surreal but has begun. parts of the new york city burrough was destroid and people who live there are f
and there is no power south of 34th street. the financial district the stock exchange did reopen today. superstorm sandy has crippled that system. there is catastrophic damage to underground tracks and equipment. the mta says it is too early to tell whether full service will return and be fixed. millions of commuters use the system every day. commuters relied on buses, cars and cabs if you were lucky enough to find them. there was gridlock as bad as we have ever seen. look at a live shot of columbus circle south of central park on the west side. central park still remained closed. it has been like this all day. one of the reasons is that crane is still dangling over 57th street and that is creating the massive traffic jam around the circle. jason joins me from the queensboro bridge. i talked to you earlier today and most people have given up trying to get a vehicle they were walking. >> oh, yeah, it has been a frustrating day for thousands of commuters making their way across the bridge. you can look through the traffic people still making their way at this hour even at 8:00. it is the only way for a lo
. praising the president for his efforts to comfort those afflicted by sandy. >> yeah, absolutely. tower, you got another one? >> i do. new york, my neighborhood was surrounded by others with power. it's crazy to look out and see the lights that you don't have. >> it really is. anne thompson's video in her piece showed perfectly, you have half the city in lights. there's uptown. and then you swing down south of about 39th street, new york city in the dark. "morning joe" starts right now. >>> how are you? you okay? oh, no. they're suffering. >> yeah. >> we're going to help you get it all together. all right? i promise. promise. you're going to be okay. everybody's safe, right? that's the most important thing. we're going to get this whole thing set up. my guy craig fugate is here. craig, this is the owner of the marina. i want to make sure that she knows that we're going to immediately make sure that she gets the help she needs to get this all back together. >> yes, sir. >> thank you. >> good morning. welcome to "morning joe." it's thursday, november 1st. with us on set, we have msnbc and "tim
by executive order for the whole state of new jersey, the state hardest hit by hurricane sandy. they will be moving halloween to monday, monday, november 5th, in order to protect new jersey's young trick-or-treaters from floodwaters and live wires and downed trees. these crews were fixing fallen power lines in toms river, new jersey, today. nearly 2 million households in new jersey are still without electricity today, day three. for reference in terms of how much of the country that means, even if there were only one person in each of the new jersey households without power, which is t isn't true, even if it was just one, the number of households without power in new jersey means there are more people in day three than the population of each of these states that is marked on the map this is a huge number of americans we are talking about here. and this is not over. this is not something that is done. it is not past tense. widespread flooding is still present. and the national guard today bringing food and supplies to hoboken, new jersey. he talked about hoboken on last night's
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